Thursday, September 18, 2008

LOCKHEED MARTIN WINS $122 MILLION TECHNOLOGY DEVELOPMENT CONTRACT FOR JOINT AIR-TO-GROUND MISSILE PROGRAM

LOCKHEED MARTIN WINS $122 MILLION TECHNOLOGY DEVELOPMENT CONTRACT FOR JOINT AIR-TO-GROUND MISSILE PROGRAM

ORLANDO, FL, September 18th, 2008 -- Lockheed Martin [NYSE: LMT] has been awarded a $122 million technology development contract for the Joint Air-to-Ground Missile (JAGM) system. The next-generation missile will be carried on U.S. Armed Forces rotary-wing, fixed-wing and unmanned aerial system (UAS) platforms.

The 27-month contract, awarded by the U.S. Army’s Aviation and Missile Command, with participation by the U.S. Navy and Marine Corps, is for a competitive risk-reduction phase of the Armed Forces’ next major missile program.

“We look forward to developing this critical new weapon system for our nation’s Warfighters,” said Rick Edwards, vice president of Tactical Missiles and Combat Maneuver Systems at Lockheed Martin Missiles and Fire Control. “Our extensive risk-reduction tests have significantly mitigated risk on the three critical subsystems, our software and simulations are mature and proven, and we have made significant strides in developing low-risk platform integration solutions. We will continue to apply the same commitment and disciplined performance proven in earlier risk reduction activity on JAGM technologies.”

The U.S. Army, Navy and Marine Corps are expected to procure approximately 35,000 JAGM rounds to replace the HELLFIRE II and Longbow HELLFIRE missiles on the U.S. Army’s Apache attack helicopter, the Warrior extended-range multi-purpose UAS, the Arapaho armed reconnaissance helicopter, the Marine Corps’ Super Cobra attack helicopter and on the U.S. Navy’s Seahawk armed reconnaissance helicopter. JAGM will also replace the Maverick missile on the F/A-18 Hornet jet fighter.

Potential extension to other platforms, such as the F-35 Joint Strike Fighter, and future international sales could push the total number of rounds much higher. The Lockheed Martin JAGM team includes more than a dozen major suppliers located across theUnited States and in the United Kingdom.

The missile has a multi-purpose warhead that packs a highly lethal shaped-charge to defeat the most advanced armored threats and a blast fragmentation capability to defeat ships, buildings, bunkers and other “soft” targets by penetrating them with a precursor warhead and then detonating a time-delayed main warhead to incapacitate the target from within.

It also has a single insensitive-munition rocket motor that provides required propulsion in extreme temperatures to deliver maximum range from all required platforms.

“Collectively, these three features will enable Army, Navy and Marine Corps aviators to perform a wide range of close air support missions from multiple platforms against diverse targets to support our forces in whatever scenario they encounter,” Edwards explained.